Many homeowners these days are going through the mortgage foreclosure process. Most of them usually end up filing for bankruptcy in an attempt to save their properties from being auctioned off. The bankruptcy option is actually the process least understood by a lot of homeowners. It is also the least popular at that. However, this [...]
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I’m a creditor whose debt is secured by a real mortgage. I’ve received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent [...]
Posted in General Information | Tagged bankruptcy, Debtor, Files, Happens, mortgage, real, what, when
Many people, in today’s economy, find that they are falling beneath a mountain of debt. The reasons are many and some are through no fault of their own yet the outcome is the same. Debt continues to accumulate and possessions become threatened when the debtor is no longer able to pay the bills.
Accidents, unforeseen job [...]
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Bankruptcy becomes a viable option for someone who is “upside down” in terms of cash flow. In other words, when a person has more money going out each month than coming in, bankruptcy should be considered if no reversal of this negative cash flow is within sight. The longer someone waits to explore the [...]
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Because of many economic factors, there are many people struggling to make ends meet and who are trying to find help with bankruptcy questions and wanting to understand how to file for bankruptcy. When people find themselves with a debt load that exceeds their income level and the monthly payments become too great, then often [...]
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With the number of home foreclosures on the rise, people are finding themselves deeper in debt than ever before. Individuals are being faced with having to seeking a solution to this debt and many are turning to the bankruptcy courts. Looking for a bankruptcy alternative is in your best interests. A bankruptcy can remain on [...]
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